{"id":36441,"date":"2024-02-26T05:52:45","date_gmt":"2024-02-26T09:52:45","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36441"},"modified":"2024-02-26T05:52:45","modified_gmt":"2024-02-26T09:52:45","slug":"bnb-price-starts-its-journey-toward-500-why-dips-turned-attractive","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/26\/bnb-price-starts-its-journey-toward-500-why-dips-turned-attractive\/","title":{"rendered":"BNB Price Starts Its Journey Toward $500, Why Dips Turned Attractive"},"content":{"rendered":"

BNB price is gaining bullish momentum above the $350 resistance. The price looks set for more gains above the $400 resistance in the near term.<\/em><\/p>\n

BNB price is showing bullish signs above the $365 resistance level.
\nThe price is now trading above $375 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $380 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could continue to rise toward the $400 resistance zone or even $422.<\/p>\n

BNB Price Extends Increase<\/h2>\n

In the last BNB price prediction<\/a>, we discussed the chances of more gains above the $365 resistance zone. The bulls did remain active and were able to push the price above the $375 level.<\/p>\n

BNB outperformed Bitcoin<\/a> and Ethereum with a move above the $380 resistance. A high was formed near $390 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $345 swing low to the $390 high.<\/p>\n

The price is now trading above $375 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $380 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

<\/a><\/p>\n

Source: BNBUSD on TradingView.com<\/a><\/p>\n

Immediate resistance is near the $390 level. The next resistance sits near the $392 level. A clear move above the $392 zone could send the price further higher. In the stated case, BNB price could test $400. A close above the $400 resistance might set the pace for a larger increase toward the $422 resistance. Any more gains might call for a test of the $500 level in the coming weeks.<\/p>\n

Dips Supported?<\/h2>\n

If BNB fails to clear the $390 resistance, it could start a downside correction. Initial support on the downside is near the $380 level and the trend line.<\/p>\n

The next major support is near the $362 level or the 61.8% Fib retracement level of the upward move from the $345 swing low to the $390 high. The main support sits at $350. If there is a downside break below the $350 support, the price could drop toward the $335 support. Any more losses could initiate a larger decline toward the $315 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $380, $362, and $350.<\/p>\n

Major Resistance Levels \u2013 $390, $400, and $422.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price is gaining bullish momentum above the $350 resistance. The price looks set for more gains above the $400 resistance in the near term.<\/em><\/p>\n

BNB price is showing bullish signs above the $365 resistance level.
\nThe price is now trading above $375 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $380 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could continue to rise toward the $400 resistance zone or even $422.<\/p>\n

BNB Price Extends Increase<\/h2>\n

In the last BNB price prediction<\/a>, we discussed the chances of more gains above the $365 resistance zone. The bulls did remain active and were able to push the price above the $375 level.<\/p>\n

BNB outperformed Bitcoin<\/a> and Ethereum with a move above the $380 resistance. A high was formed near $390 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $345 swing low to the $390 high.<\/p>\n

The price is now trading above $375 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $380 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

<\/a><\/p>\n

Source: BNBUSD on TradingView.com<\/a><\/p>\n

Immediate resistance is near the $390 level. The next resistance sits near the $392 level. A clear move above the $392 zone could send the price further higher. In the stated case, BNB price could test $400. A close above the $400 resistance might set the pace for a larger increase toward the $422 resistance. Any more gains might call for a test of the $500 level in the coming weeks.<\/p>\n

Dips Supported?<\/h2>\n

If BNB fails to clear the $390 resistance, it could start a downside correction. Initial support on the downside is near the $380 level and the trend line.<\/p>\n

The next major support is near the $362 level or the 61.8% Fib retracement level of the upward move from the $345 swing low to the $390 high. The main support sits at $350. If there is a downside break below the $350 support, the price could drop toward the $335 support. Any more losses could initiate a larger decline toward the $315 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $380, $362, and $350.<\/p>\n

Major Resistance Levels \u2013 $390, $400, and $422.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36441","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36441"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36441\/revisions"}],"predecessor-version":[{"id":36445,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36441\/revisions\/36445"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36441"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}